Leaving EMU: a real options perspective

The real option implicit in a country's decision of whether to leave an existing monetary union when there is uncertainty over the future benefits of this move is examined. The theoretical model used is calibrated for the current Euro-12 area by proxying policymakers’ inflation preferences with unemployment rates and debt-to-GDP ratios. A robust group of countries is observed that would choose to remain within EMU consisting of Belgium, Finland, Greece and Italy; France and Spain loosely also belong to this core. Only Luxembourg would robustly want to leave EMU; Ireland and The Netherlands, however, complement that core closely.     

环境所有权、贸易结构变迁与污染分布——基于超边际经济学框架的分析

文章引入环境所有权概念,运用新兴古典经济学的超边际分析方法,研究了贸易结构变迁与相应的污染分布和转移,旨在揭示大国污染效应、工业化路径的环境效应、贸易结构变迁的环境所有权因素以及环保政策失效的原因。研究推导出不同国家间环境所有权模糊程度和交易效率变化对贸易结构变迁与污染分布变化的作用机理。研究命题可用于解释现实贸易发展中存在的环境污染现象。     

从NAFTA和MAI的视角看投资协定中的环境规则

进入20世纪90年代以来，人们日益把投资和环境问题联系起来。这里首先阐述了投资和环境问题的内在联系，继而对北美自由贸易协定和多边投资协定中的环境规则进行分析，最后为未来的投资协定的环境规则提出了若干建议。     

Double Dividend with Involuntary Unemployment: Efficiency and Intergenerational Equity

This paper analyzes the double dividend and distributional issues within an overlapping generations model framework with involuntary unemployment. We characterize the necessary conditions needed to obtain a double dividend, when the revenue of the environmental tax is recycled by a variation of the labor tax rate. We show that an employment dividend may occur without any efficiency dividend and that the young generation is not always harmed by the fiscal reform, even without any intergenerational transfers. Therefore, three dividends (environmental, efficiency and intergenerational equity) can occur simultaneously.     

论天人合一与生态环境──台湾八八水灾的省思

人类向来就不是自然大千世界的主宰者。2009年,八八水灾重创台湾,省思缘由,是天灾也是人祸。如果无法从灾难中记取教训,灾难永远无法停止。古代人智慧结晶＂天人合一＂,是人类与大地永续经营的天然法则。从＂心＂做起,净化人心,建立人类的环保心灵,方是终止灾难的关键。万物是人类生存的主体,懂得疼惜,才能久远。处处留心皆学问,花开花落尽禅机,万物静观皆自得,一切莫名的感动与行动都是生命的活泉。     

Personalist Economics: Moral Convictions,Economic Realities,And Social Action

We examine the relationship between the administrative enforcement of environmental regulation, ethnic heterogeneity, and other community characteristics in New Jersey and New York. We find that the percentage of non-white population in a community is positively related with administrative penalties imposed on violators. However, penalties are lower in more ethnically diverse communities. This result may be due to the fact that these communities are less likely to coordinate to create solidarity across ethnic groups and demand stronger enforcement.